Latest news with #Zambia-based
Yahoo
3 days ago
- Politics
- Yahoo
Judge blocks Trump effort to dismantle African development agency
A federal judge on Tuesday blocked President Trump's appointment of a new head of the U.S. African Development Foundation (USADF), indefinitely halting his directives to massively slash the agency's workforce and grant funding. U.S. District Judge Richard Leon found that Trump's installation of Peter Marocco as USADF's acting board chair was likely unconstitutional, ruling he needed to face Senate confirmation for it to be valid. 'While defendants argue that the President has inherent Article II power to appoint acting principal officers, there is little hope for defendants that this argument will win the day,' Leon wrote in his 16-page ruling. 'The Court therefore finds that plaintiffs are likely to succeed on the merits of their challenge to the legality of Marocco's appointment,' continued Leon, an appointee of the younger former President Bush. The Trump administration has looked to dismantle the USADF and other aid agencies across the federal government, alleging widespread waste and abuse. Marocco's appointment came after Trump signed a February executive order calling for the elimination of USADF and several other development agencies. Marocco has played a key role in the administration, formerly overseeing the dismantling of the U.S. Agency for International Development. Once Trump purported to appoint Marocco as USADF's acting board chair, Marocco named himself the group's president. He then began sweeping cuts that included nearly everything except keeping two employees and three active grants, court filings show. Last week, Marocco publicly posted a list of grants he said the USADF was terminating but didn't have updated contact information for the recipients. The judge's decision on Tuesday sides with Rural Development Innovations, a Zambia-based consulting firm that is dependent on USADF funding. The company sued alongside two former USADF employees, but the judge said the employees weren't entitled to an injunction because they hadn't shown irreparable harm. They were represented by the Democracy Forward Foundation, a left-leaning legal group that has brought a flurry of litigation against the second Trump administration. 'This is a victory for the rule of law and the communities that rely on USADF's vital work,' Joel McElvain, senior legal adviser at the group, said in a statement. 'No president can erase a federal agency, ignore Congress, and upend lives without legal authority. We will continue fighting against these power grabs to protect USADF's ability to fulfill the mission that Congress gave it to perform.' It is one of two lawsuits challenging the administration's takeover of USADF. Leon previously rejected a similar lawsuit filed by Ward Brehm, who served on USADF's board and claimed to be the group's president. Leon determined Brehm wasn't the right person to sue. The Hill has reached out to the Justice Department for comment. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
01-07-2025
- Politics
- The Hill
Judge blocks Trump effort to dismantle African development agency
A federal judge on Tuesday blocked President Trump's appointment of a new head of the U.S. African Development Foundation (USADF), indefinitely halting his directives to massively slash the agency's workforce and grant funding. U.S. District Judge Richard Leon found that Trump's installation of Peter Marocco as USADF's acting board chair was likely unconstitutional, ruling he needed to face Senate confirmation for it to be valid. 'While defendants argue that the President has inherent Article II power to appoint acting principal officers, there is little hope for defendants that this argument will win the day,' Leon wrote in his 16-page ruling. 'The Court therefore finds that plaintiffs are likely to succeed on the merits of their challenge to the legality of Marocco's appointment,' continued Leon, an appointee of the younger former President Bush. The Trump administration has looked to dismantle the USADF and other aid agencies across the federal government, alleging widespread waste and abuse. Marocco's appointment came after Trump signed a February executive order calling for the elimination of USADF and several other development agencies. Marocco has played a key role in the administration, formerly overseeing the dismantling of the U.S. Agency for International Development. Once Trump purported to appoint Marocco as USADF's acting board chair, Marocco named himself the group's president. He then began sweeping cuts that included nearly everything except keeping two employees and three active grants, court filings show. Last week, Marocco publicly posted a list of grants he said the USADF was terminating but didn't have updated contact information for the recipients. The judge's decision on Tuesday sides with Rural Development Innovations, a Zambia-based consulting firm that is dependent on USADF funding. The company sued alongside two former USADF employees, but the judge said the employees weren't entitled to an injunction because they hadn't shown irreparable harm. They were represented by the Democracy Forward Foundation, a left-leaning legal group that has brought a flurry of litigation against the second Trump administration. 'This is a victory for the rule of law and the communities that rely on USADF's vital work,' Joel McElvain, senior legal advisor at the group, said in a statement. 'No president can erase a federal agency, ignore Congress, and upend lives without legal authority. We will continue fighting against these power grabs to protect USADF's ability to fulfill the mission that Congress gave it to perform.' It is one of two lawsuits challenging the administration's takeover of USADF. Leon previously rejected a similar lawsuit filed by Ward Brehm, who served on USADF's board and claimed to be the group's president, finding he wasn't the right person to sue. The Hill has reached out to the Justice Department for comment.
Yahoo
05-06-2025
- Business
- Yahoo
Shuka Minerals secures final regulatory nod to buy Leopard Exploration and Mining
Shuka Minerals, an Africa-focused mine operator, has received the final regulatory approval from the Competition and Consumer Protection Commission (CCPC) for its acquisition of Zambia-based Leopard Exploration and Mining (LEM). The approval paves the way for the completion of the transaction, which includes the Kabwe Zinc Mine in Zambia. The company had previously extended the completion date for the acquisition to 11 June 2025, due to the pending approval from the CCPC. With all other necessary approvals already secured, the interim unconditional authorisation is a significant milestone for Shuka Minerals. The technical committee of the board of commissioners of the CCPC granted the authorisation, confirming no significant grounds for action against the acquisition under the Zambian Competition and Consumer Act. This decision allows Shuka Minerals to proceed with the share and cash-based transaction to acquire 100% of LEM's share capital. Shuka Minerals CEO Richard Lloyd said: 'Receipt of the interim unconditional authorisation from the Technical Committee of the CCPC is another major milestone for us. 'This authorisation allows us to now move ahead and finalise the acquisition of Leopard Exploration and Mining and the Kabwe Zinc Mine, whilst we wait for the Board of Commissioners of the CCPC to formally meet and provide the final approval, and will allow us to now proceed with securing the proposed funding, expected to be on a non-dilutive basis, to allow us to complete the cash-based payment in terms of the acquisition." LEM holds a large-scale mining licence for the Kabwe Mine, which is located approximately 110km north of Lusaka, Zambia's capital. The mine was previously operated by Anglo American and Zambia Consolidated Copper Mines and was in production for 88 years until its closure in 1994. The acquisition of LEM and the Kabwe Mine represents a strategic growth opportunity for Shuka Minerals, positioning the company to expand its operations in the region and leverage the mine's potential. "Shuka Minerals secures final regulatory nod to buy Leopard Exploration and Mining" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-03-2025
- Business
- Yahoo
Copperbelt to invest $500m in solar power and transmission line upgrades
Zambia-based Copperbelt Energy Corporation (CEC) plans to invest $500m up to 2026 to boost solar power generation and increase the capacity of its power transmission line link to the Democratic Republic of Congo (DRC), as reported by Reuters. The power infrastructure solutions provider operates the only line connecting the DRC to the Southern African Power Pool (SAPP). CEC plans to strengthen the power transmission line between Zambia and Congo, increasing its capacity from 250MW to 550MW. CEC chief financial officer Mutale Mukuka stated the company's intention to attract investors to finance the projects as Zambia recovers from a four-year sovereign debt default. "We're looking to invest around $500m over the next two years and most of this financing will come from third-party financiers," Mukuka told Reuters. He emphasised the company's commitment to investing "quite heavily in transmission projects to make sure that power from [new projects] can reach consumers." Interest in Zambia's energy projects has been renewed following the country's recovery from a sovereign default and an El Niño-induced drought that severely impacted power generation. Despite the challenges posed by the drought, CEC reported revenue growth of more than 240% in 2024, reaching $8.66m compared to $2.53m in 2023, along with an EBITDA [earnings before interest, taxation, depreciation and amortisation] increase of 228%. The company commissioned the 60MW Itimpi Phase 1 solar photovoltaic (PV) plant in April 2024. It produced 95.3 gigawatt hours (GWh) of renewable energy during the year, contributing to the mitigation of power shortages in Zambia and the wider region. CEC's board of directors approved a 136MW expansion of the Itimpi solar PV project to maintain growth and reach a generation capacity of 200MW by 2025. This expansion will boost CEC Renewables' total capacity to 230MW. The company has also secured $96.72m through the issuance of its second Green Bond for this development. Combined with the first tranche, the total raised under the company's $200m medium-term note programme has reached $150.27m. In July 2024, ProMarks and Trafigura signed a preliminary agreement with the Angolan government to develop a power transmission project to transfer surplus green electricity from northern Angola's hydroelectric dams to the DRC's Copperbelt province and Zambia. "Copperbelt to invest $500m in solar power and transmission line upgrades" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
